Deal Details

RRC To Be Acquired by NTS

Industrial
Technology & Services

RRC, a subsidiary of PAR Technology, sale to NTS, a portfolio company of Clairvest

Summary

PAR Technology Corporation (“PAR Technology”) (NYSE: PAR) has agreed to sell its Government operating segment in two, separate sale transactions of its subsidiaries: Rome Research Corporation (“RRC”) to NexTech Solutions, LLC (“NTS”), a portfolio company of Clairvest Group, Inc. (“Clairvest”) (TSX: CVG) and PAR Government Systems Corporation (“PGSC”) to Booz Allen Hamilton, Inc. (“Booz Allen”) (NYSE: BAH). While the sale of PGSC has closed, the sale of RRC is still subject to customary closing conditions.

Baird served as the exclusive financial advisor to PAR Technology on both transactions.

About

RRC is a provider of premier on-site technical support services for strategic communications and information systems. RRC has a long-established track record of ensuring functionality and positioning of government satellite assets for Department of Defenses (“DoD”) agencies worldwide, including operating, managing, and maintaining satellite operations. RRC is founded and headquartered in Rome, New York.

NTS provides systems engineering, testing and evaluation, and operational support integrating hardware, software, and subject matter experts to support United States DoD missions. NTS proudly supports the United States DoD and many other United States government customers around the world to determine the best solutions for exceeding mission objectives. NTS is headquartered in Tampa, Florida.

Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top performing private equity management firm with over CAD $4.4 billion of capital under management. Clairvest partners with management to invest in profitable small and mid-sized North American companies, across a wide variety of industries. Clairvest is headquartered in Toronto, Canada.

PAR Technology is a leading global foodservice technology company and provider of unified commerce for enterprise restaurant brands. More than 95,000 restaurants in 110 countries use PAR Technology’s restaurant point-of-sale, digital ordering, loyalty, and back-office software solutions as well as industry-leading hardware and drive-thru offerings. PAR Technology is headquartered in New Hartford, New York.

Industrial
Technology & Services

RRC, a subsidiary of PAR Technology, sale to NTS, a portfolio company of Clairvest